Hyderabad – Oct 16th, 2026 – According to Mordor Intelligence, the global natural gas liquids market size is estimated at USD 23.83 billion in 2025 and is projected to reach USD 32.18 billion by 2030, registering a CAGR of 6.19%. Growing demand for petrochemical feedstocks, increased shale gas production, and expanding propane dehydrogenation capacity are supporting market growth.
The natural gas liquids industry also benefits from investment in gathering networks, processing plants, fractionation facilities, storage terminals, and export infrastructure. These assets help producers separate individual NGL components, transport them to consumption centres, and supply international markets. However, changing crude oil and natural gas price spreads, high infrastructure investment requirements, and fluctuations in industrial demand continue to influence production and investment decisions.
Natural Gas Liquids Market Trends & Developments
Increasing investment in Asian petrochemicals: China and other Asian markets are expanding petrochemical production capacity. Propane dehydrogenation plants and ethylene steam crackers support demand for imported and domestically sourced NGL feedstocks.
Feedstock cost advantages: NGL-based production can offer cost advantages over naphtha and other oil-based feedstocks, depending on regional prices and plant configurations. These economics influence purchasing decisions and the competitiveness of petrochemical producers.
Expansion of midstream and export infrastructure: Gathering pipelines, fractionation facilities, storage assets, and export terminals improve the movement of NGLs from producing regions to industrial consumers. Infrastructure availability remains a key consideration for market participants.
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Natural Gas Liquids Industry Segmentation
By Types
- Ethane
- Propane
- Butanes
- Natural gasoline
- Other natural gas liquids
By Applications
- Petrochemical feedstocks
- Residential and commercial fuel
- Industrial fuel
- Transportation fuel
- Space heating
- Electricity generation
- Aerosol propellants and refrigerants
By End-user
- Industrial
- Residential
- Commercial
- Utilities
- Transportation
- Oil and gas sector (internal use)
By Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
North America Leads the Natural Gas Liquids Market
North America held 38.7% of natural gas liquids market revenue in 2024, supported by substantial shale gas production and established processing and transportation infrastructure. The United States plays a central role through production from shale-rich basins, including the Permian, where associated gas supplies contribute to NGL availability. Canada also supports the regional supply chain through processing and fractionation assets. Established pipeline networks and export terminals allow producers to supply domestic industrial customers and overseas markets. Meanwhile, Asia-Pacific is projected to record the fastest regional growth, at a CAGR of 7.3% through 2030, as China expands petrochemical capacity and demand for propane and ethane feedstocks increases.
Natural Gas Liquids Companies
- Enterprise Products Partners L.P.
- Phillips 66
- Energy Transfer LP
- ExxonMobil Corporation
- ONEOK Inc.
- Chevron Corporation
- Shell plc
- ConocoPhillips
- Targa Resources Corp.
- Pembina Pipeline Corporation
Conclusion
The natural gas liquids market is expected to maintain growth through 2030 as petrochemical feedstock requirements, shale-related supply, and Asian processing capacity support demand. Ethane remains a key component because of its role in ethylene production, while propane benefits from petrochemical applications and international trade. Market participants will continue to assess feedstock price differences, processing costs, and export infrastructure when making investment decisions.
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